上市公司财务绩效评价有效性实证研究1

【作者】 张青；

【机构】 复旦大学管理学院；

【摘要】 企业财务绩效为众多利益相关者所关注,但多方法评价结论非一致性问题的存在使得财务绩效评价的有效性为理论界所关注。本文以上市公司财务绩效为研究对象,采用实证研究的方法,通过对单一方法评价与组合评价,以及并联与串联组合评价有效性差异的实证分析,从机理上证明了组合评价的有效性优于单一方法,并联组合评价的有效性优于串联组合评价。该结论可为组合评价方法的发展提供理论依据,也为实践界进行财务绩效评价提供了更为科学的工具与手段。更多还原

【Abstract】 Business financial performance is a critical issue focused by many stakeholders. But the inconsistency of results is present due to application of various methods to evaluate financial performance. So it is of more value to study the effectiveness of financial performance evaluation methods. This research based on the financial performance of listed companies and applied empirical research methods, in order to analyze the effectiveness of single evaluation method and combination evaluation method as well as the differences of effectiveness between parallel and series combination evaluation approach. The research comes to two results: 1) the combination evaluation method is better than single evaluation one; 2) and parallel combination evaluation approach is better than the other one. The two conclusions from the research provide theoretical foundation to the development of combination evaluation method, and scientifically tools for financial performance evaluation in practice.更多还原